2003 (3) TMI 93

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....-Jiwan Lal Kapoor is the petitioner before us. His son, Rajiv Kapoor, had gone to Bhopal in the month of June, 2002, carrying with him gold jewellery weighing 3,934.410 grams valued at Rs. 17,50,808. He went to the shop of Shringar Jewellers at Bhopal on June 13, 2002, when an income tax raid took place in that shop. Amongst others, the jewellery which Rajiv Kapoor was carrying with him was also s....

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....sing Officer at Amritsar has issued a notice to J. L. Kapoor and Sons under section 158BD of the Income-tax Act, 1961 (for short "the Act"), and the proceedings are going on. However, we are not concerned with those proceedings in this writ petition. The grievance of the petitioner is that the finding recorded by the authorities at Bhopal that the jewellery recovered from Rajiv Kapoor was the unac....

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....s us that the jewellery is with the concerned Commissioner of Income-tax at Bhopal and can be released if a direction is issued by this court. It is the common case of the parties that the jewellery seized from Rajiv Kapoor cannot be retained by the income-tax authorities if the same stands accounted for/reflected in the account books of J. L. Kapoor and Sons. It is, therefore, necessary that the ....